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2001 - 05-21-01 Regular Meeting
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2001 - 05-21-01 Regular Meeting
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2/26/2009 2:22:18 PM
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2/26/2009 2:21:33 PM
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Admin-Clerk
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Minutes
Committee
Board of Commissioners
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KU U 1\ " , is eac~ 4 013 <br />WHEREAS, the Board of Commissioners for Lee County, North Carolina, has <br />by unanimous action authorized the execution and delivery of this lease and preservation <br />agreement; <br />NOW, THEREFORE, in consideration of the purposes to be effectuated as <br />hereinbefore set forth and in further consideration of the sum of One Dollar ($1.00), the <br />receipt of which is hereby acknowledged, Lessor does hereby demise and lease unto the <br />Lessee that certain parcel of land together with improvements thereon situate, lying and <br />being in the City of Sanford, County of Lee, State of North Carolina, and more <br />particularly described as follows: <br />BEING all of Lot Numbers 1, 2, 3, 4, 5, and 8 in Block 15 as shown and <br />depicted on a plat of Rosemont Subdivision of record in the Lee County <br />Registry in Plat Cabinet 2, Slide 269, to which map reference is hereby <br />made for greater certainty of description. This property is leased subject <br />to the right-of-way of Homer Blvd. <br />TO HAVE AND TO HOLD said land and premises, together with all privileges <br />and appurtenances thereunto belonging, to Lessee and its successors and assigns for the <br />term and upon the conditions hereinafter set forth and subject to the reservation of rights <br />as to the basketball court as hereinafter set forth: <br />1. Term. This lease shall begin on July 1, 2001, and unless sooner <br />terminated as herein provided, shall exist and continue until June 30, 2051. <br />2. Premises. During the tens of this lease, it is expressly agreed that the <br />demised premises be used exclusively for the purposes set out in the preservation <br />agreement contained in the deed of conveyance of the portion of Block 15 to the Lessee <br />and which deed is of record in Book Page , Lee County Registry, and this <br />property shall be used as an addition to and in conjunction with those premises in said <br />agreement and not for any commercial and manufacturing operations, whatsoever. <br />3. Preservation Agreement. This tract or parcel of land is leased subject to <br />certain restrictions, covenants and conditions as set out in the following preservation <br />agreement as to the use thereof running with the land by whomsoever owns said <br />preservation agreement being assented to by the Lessee by the acceptance of this lease. <br />The terms, conditions, restrictions, and covenants of said preservation agreement are as <br />follows: <br />(a) To preserve the building on the premises hereinbefore described which <br />building is historically significant for its architectural, artistic, cultural, and <br />historical association with the community as a school building and an arts and <br />cultural center. <br />
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